The firm said a new well proved its Sea Lion field 80 miles off the Falklands
coast is BIGGER than expected.

And two further big oil hits were made on the way down — as well as a
discovery of gas.

The strikes will infuriate Argentina’s Prime Minister Cristina Kirchner — who
slammed Britain last year for trying to exhaust “Argentinian natural
resources”.

Rockhopper — which has spearheaded the Falklands “black gold” rush — saw its
shares rise 11 per cent yesterday as analysts estimated it could recover as
much as 430 million barrels of crude from Sea Lion.

The firm’s chief executive Sam Moody said: “This fantastic result from our
most aggressive well of the campaign will further increase our minimum
estimates of oil in place.”

EVOLUTION analyst Keith Morris said Rockhopper’s stock could be worth
more than double yesterday’s closing price of 268.5p.

He said: “There is no doubt this well should drive the net asset value higher.
This should convince investors that they have a large economic field
development.”

Rockhopper has made a series of finds since 2010 that have sent tensions with
Argentina soaring.

This month, Ms Kirchner’s party said Argentinian athletes at next year’s
London Olympics should wear a logo stating “the Falklands are Argentine”.

Last week it emerged the Argentinian navy is boarding European fishing boats
it accuses of breaching its “blockade” of sea channels to and from the
islands.

Rockhopper believes it could be pumping 120,000 barrels a day out of its
Sea Lion field by 2018.

US giant EXXON has dismissed the potential of the Falklands in the past
— believing development costs are too high to make the region profitable.

350 jobs at new nuke site

EDF ENERGY yesterday created hundreds of jobs by pushing the button on
a new nuclear plant.

The French-owned giant awarded a £100 million contract for site preparation at
Hinkley Point, Somerset, to Anglo-Dutch pairing KIER-BAM.

The project is expected to create 350 jobs in 2012.

German nuclear giant AREVA won the contract to design the main
reactors. Only a third of the 150 jobs that will create are expected to be
in the UK.

EDF chief Vincent de Rivaz said: “This is part of the growth agenda. This is
just the beginning.

“Our project will inject billions into the economy, revitalise entire sectors
of industry and support tens of thousands of jobs.” Hinkley C will be the
third power station on the site and is one of EIGHT locations
identified by ministers for possible new nuclear plants.

EDF expects to spend more cash on its UK plants to incorporate safety rules
imposed in the wake of the Japanese blast at Fukushima.

PRET A MANGER is taking on 70 homeless or disadvantaged Brits as
apprentices.

‘Don’t diss euro’

THE head of Europe’s creaking bailout fund claims it is “stupid” to say the
euro is doomed.

Klaus Regling last night insisted the single currency would last for a long
time.

And he added the European Financial Stability Fund (EFSF) had “substantial
firepower” to tackle the debt crisis.

The German said that with the International Monetary Fund, Europe could even
handle Italy running into trouble — “certainly for 12 months or so”.

He told Al Jazeera TV: “The euro is not doomed, the euro will exist for a long
time.” Borrowing costs for Italy and Spain would fall, he added. His
comments came as experts said last Friday’s EU summit did nowhere near
enough to solve the crisis.

SUN CITY COMMENT: Regling’s been on the Riesling.

Costa’s gone off the boil

WHITBREAD boss Andy Harrison claims the economy is “going sideways”
after a setback for his PREMIER INN and COSTA COFFEE chains.

Sales growth across the two “budget” brands slipped in the 13 weeks to
December — with Premier Inn up 2.6 per cent.

Costa Coffee’s growth was 3.8 per cent — down on the prior six months.

Mr Harrison insisted the group was outperforming almost every other consumer
brand, adding: “I wonder how many other companies have delivered such good
numbers.”

But shares fell 5 per cent. Analysts at PANMURE GORDON wrote: “The
slowdown is most apparent in hotels.

“The stock is not expensive. However we struggle to identify catalysts for
outperformance.”

Mr Harrison refused to comment on the outcome of Mary Portas’s high street
review, other than to say people loved Costa. He said rival STARBUCKS
was simply “catching up” with its plan to roll out 200 drive-thru coffee
bars.